Teladoc Health Inc (NYSE: TDOC) is eyeing its third-straight jump today, up 1.2% at $226.94 in pre-market trading following a bull note from brokerage firm Berenberg. The analyst upgraded TDOC to a "buy" and lifted its price target to $252 from $157, citing the growing shift to telehealth, sparked by the pandemic. Berenberg added that Teladoc's acquisition of Livongo Health (LVGO) represents a compelling investment case.

Berenberg commended Teladoc's recent merger with Livongo Health, calling it a compelling investment case

Today's pop puts TDOC even closer to its Aug. 4 high of $253. While the shares saw a sharp pullback from this area not long after, the 110-day moving average created a springboard on the charts. During the past few weeks, the 60-day has also acted as a layer of support.

Should this positive price action continue, the brokerage bunch could start following Berenberg's lead. While the majority of the 24 analysts covering the stock called it a "buy" or better, coming into today, 10 still called TDOC a "hold." Plus, the 12-month consensus price target of $232.88 sat at just a slim 3.9% premium to last night's close. 

Short sellers, meanwhile, have been coming in in droves, with short interest surging an eyebrow-raising 78.5% in the last reporting period. This move has put these bears firmly in control. In fact, the 12.28 million shares sold short make up a healthy 17.2% of TDOC's available float, or a little less than four days of trading at the equity's average pace.